GOLD: Still on the down side

FX:XAUUSD   Gold/U.S. Dollar
184 0 4
Gold             is still on the down trend. There is nothing new since August 2011 when gold             reached 1828 and then confirmed trend on September 2012 at 1771.
The first date was the bubble formation and the process of securing investment during the financial crises. The second date is the ultimate Q3 timing where FEd decided to spread money in the market. Since then the trend is on the downside. The downside will remain until GOLD             reaches at least 1180 and until FED decides to increase its interest rate .
Until then although they may be a little upside move because the precious metal is at an oversold level or because of instant geopolitical news, there is no reversal on the trend.
Please do note that if gold             reach above the green line, i.e 1365, before reaching 1180, we may considere it as a break of trend and would need to see further signals to confirm the change of trend. But be assured, we are not there yet.
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